From Bloomberg: Saudi Arabian real estate and energy companies are leading Islamic bond sales from the Persian Gulf as the kingdom’s $400 billion stimulus plan, the biggest among the Group of 20 nations, boosts spending.
Sukuk from borrowers in the largest Arab economy may more than double to $4.5 billion this year from $2.1 billion in 2009, as a “scarcity” of local notes that comply with the religion’s ban on interest bolsters demand from local banks, according to Riyadh-based HSBC Saudi Arabia Ltd..............................................Full Article: Source